CVS Ground Lease At 35 West Main St In Norton, MA Sold By Waldman & Associates For $2.35M
SOLD
$2,350,000
Ontario
See Similar DealsRetail
Sold 04/27/2023
SOLD
CVS Ground Lease At 35 West Main St In Norton, MA Sold By Waldman & Associates For $2.35M
35 West Main St
See Similar DealsRetail
Sold 04/27/2023
Summary
Asset Type:Retail
Transaction Type:Sale
A ground lease with CVS as the tenant at 35 West Main St. in Norton, MA has been sold for $2.35 million. The property, representing a retail asset type, is located in the Norton market. The sale was made after CVS extended its ground lease through January 2041. Waldman & Associates, represented by Dan Waldman, facilitated the transaction.
Summary of transaction details
- Property Type: Retail
- Sale Price: $2,350,000
- Address: 35 West Main St, Norton, MA
- Market: Norton, MA
- BROKER: Dan Waldman - Waldman & Associates
The property at 35 West Main St. in Norton, MA, was sold in a ground lease deal with CVS as the tenant for $2.35 million, achieving a 4.7 cap rate. The property has been on and off the market over the years, and this sale was made possible by CVS's extension of the ground lease through January 2041.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,349.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,140.20
Annual Debt Service$133,682.39
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